{"id":1346,"date":"2024-03-03T22:20:16","date_gmt":"2024-03-03T22:20:16","guid":{"rendered":"https:\/\/financeify.ca\/?p=1346"},"modified":"2024-03-03T22:20:16","modified_gmt":"2024-03-03T22:20:16","slug":"ia-financial-earnings-grow-in-the-third-quarter","status":"publish","type":"post","link":"https:\/\/financeify.ca\/index.php\/2024\/03\/03\/ia-financial-earnings-grow-in-the-third-quarter\/","title":{"rendered":"iA Financial Earnings Grow in the Third Quarter"},"content":{"rendered":"

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Quebec City-based iA Financial Corporation’s earnings rose again in the third quarter.<\/p>\n

The company reported net income attributable to common stockholders of $217.5 million in the third quarter, up from $188.2 million in the second quarter and $183.7 million a year earlier. Diluted earnings per common share (EPS) reached $2.03, marking the first time iA’s EPS exceeded the $2 threshold.<\/p>\n

Most of iA’s business units reported “significant” revenue growth this quarter, the company said in a statement.<\/p>\n

iA’s Individual Insurance division saw experience gains of $12.8 million. Markets were positive for universal life policies and reserve backing assets, although mortality was “unfavorable,” resulting in a $0.02 decline in EPS.<\/p>\n

Individual wealth management generated a profit of $3.5 million. Guaranteed product sales were $208.2 million, up 29% year over year, and dedicated fund sales were $724.9 million, up 26% year over year.<\/p>\n

Gross sales of mutual funds reached $544.7 million, an increase of 17% compared to last year. Net sales of mutual funds were positive for the second quarter in a row, and net inflows reached $47.6 million.<\/p>\n

iA reported assets under management and administration were $185.8 billion in the third quarter, up from $181 billion at the end of the second quarter but down from $187.1 billion a year earlier.<\/p>\n

The company reported a capital adequacy ratio of 125%, “well above” its target range of 110-116%.<\/p>\n

\u201cIn the face of the ongoing pandemic, we are continuing to grow long-term while protecting our significant financial strength,\u201d Denis Ricard, president and CEO of iA Financial Group, said in a statement.<\/p>\n

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Quebec City-based iA Financial Corporation’s earnings rose again in the third quarter. The company reported net income attributable to common stockholders of $217.5 million in the third quarter, up from $188.2 million in the second quarter and $183.7 million a year earlier. Diluted earnings per common share (EPS) reached $2.03, marking the first time iA’s […]<\/p>\n","protected":false},"author":1,"featured_media":1347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[18],"tags":[642,192,718,583],"class_list":{"0":"post-1346","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-seg-fund-investments","8":"tag-earnings","10":"tag-grow","11":"tag-quarter"},"aioseo_notices":[],"yoast_head":"\niA Financial Earnings Grow in the Third Quarter - Financeify<\/title>\n<meta name=\"description\" content=\"Quebec City-based iA Financial Corporation's earnings rose again in the third quarter. 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